The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Tuesday as the new monthly trade cycle got underway:
* WCS for October delivery in Hardisty, Alberta, traded at $13.50 a barrel below WTI on Tuesday, according to brokerage CalRock, having settled at $13.40 a barrel under the benchmark on Friday.
* Canadian pipeline operator Enbridge is cutting its tariffs for September by 11% per barrel on heavy crude moving on its Mainline system in response to increased competition from the newly expanded Trans Mountain line. The 3-million-bpd system ships the bulk of Canada’s crude exports from Edmonton to the U.S.
* Global oil prices tumbled, with Brent crude futures settling down $3.77 a barrel to their lowest since Dec. 12, on signs of a deal to resolve a dispute that has halted Libyan crude production and exports.
(Reporting by Georgina McCartney in Houston; Editing by Tasim Zahid)